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Compliance
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May 02, 2024
Biden Announces $3B To Fund Lead Pipe Replacement
The Biden administration is distributing $3 billion to states so they can replace lead water pipes that pose a health risk to those who rely on them for drinking water, as part of the larger goal to remove all lead service lines nationwide.
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May 02, 2024
Activist Files New Proxy Fight In REIT Takeover Attempt
Activist investor Blackwells Capital LLC continued its campaign against hospitality executive Monty J. Bennett by separately urging shareholders of Braemar Hotels & Resorts Inc. and an advisory firm that Bennett controls to approve a board shake-up during upcoming annual meetings.
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May 02, 2024
Green Groups Want FEMA To Define 'Resiliency'
Environmental advocacy and consumer groups sued the Federal Emergency Management Agency in D.C. federal court Thursday, alleging the agency is way past its deadline to initiate rulemaking to define "resilient."
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May 02, 2024
Ohio City Targets EPA Over 'Foul-Smelling Scum' On Lake Erie
An Ohio city, a county board and a nonprofit want the U.S. Environmental Protection Agency to live up to its responsibility to stop "foul-smelling scum" from building up in western Lake Erie, according to a federal lawsuit.
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May 02, 2024
11th Circ. Lets Georgia Island Dock Lawsuit Proceed
A Georgia conservation group can resume its challenge to federal approval of a private pier on Cumberland Island after a divided Eleventh Circuit panel said regulators could conduct a more rigorous environmental review even though the dock was already built.
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May 02, 2024
Calif. Justices To Review Gilead's HIV Drug Negligence Fight
The California Supreme Court has granted Gilead Sciences Inc.'s request to review an appellate court's holding that the drugmaker must face claims it held back a safer HIV drug to maximize profits on an older medication.
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May 02, 2024
2nd Circ. Skeptical About Ex-TD Bank Manager's Bias Suit
The Second Circuit appeared unwilling Thursday to wipe out TD Bank's win over a former manager's suit alleging he was ousted because he asked for parental leave and had anxiety, with an appellate panel seeming unconvinced that the bank's claim that unethical conduct got him fired was dishonest.
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May 02, 2024
DOL Hit With First Lawsuit Over New Investment Advice Regs
The U.S. Department of Labor was hit with a lawsuit Thursday in Texas federal court seeking to invalidate recently finalized regulations that broaden who qualifies as a fiduciary under the Employee Retirement Income Security Act, marking the first-filed legal challenge since the agency's late-April final release.
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May 02, 2024
Split Conn. Supreme Court Says No To 'Ratio' Utility Bills
In a rare 4-3 opinion, the Connecticut Supreme Court on Thursday ruled that a corporate landlord cannot use a ratio utility billing system to divide monthly costs among units not equipped with precise individual meters, stressing a legislative policy of protecting tenants from fluctuating fees beyond their immediate control.
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May 02, 2024
Broadcast Cos. Demand Oversight Of Sports TV Joint Venture
Broadcasters and competition advocates on Thursday pressed lawmakers to hold hearings on the pay-television industry, warning that a planned sports streaming venture between Disney, Fox and Warner Bros. Discovery threatens to "dominate" the market.
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May 02, 2024
Split 10th Circ. Spikes $17.3M Atty Fee Over Class Notice
A split Tenth Circuit panel has vacated for a second time a $17.3 million attorney fee award for reaching a $52 million class action settlement over gas well royalty payments, with the majority writing that the lower court erred by not requiring a new class notice regarding the revised fee bid.
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May 02, 2024
Discover Ups Liability Costs For Card Pricing Issue To $1.2B
Discover Financial Services has put a $1.2 billion price tag on remediation for its previously disclosed credit card pricing misclassification, which is now the subject of a U.S. Securities and Exchange Commission investigation, representing an increase of nearly 230% from the $365 million liability it recorded nearly a year ago.
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May 02, 2024
Sullivan & Cromwell Creates National Security Practice Group
Sullivan & Cromwell LLP has launched a national security practice to help clients with matters stemming from the increased use of economic sanctions, anti-money laundering laws, the Foreign Corrupt Practices Act, foreign investment regulations, export controls and import restrictions, the firm said Thursday.
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May 02, 2024
Husch Blackwell Gains Energy Ace From Locke Lord In Austin
Husch Blackwell LLP has strengthened its energy practice with a partner in Austin who has expertise in regulatory matters and who came aboard from Locke Lord LLP.
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May 02, 2024
FTC Clears $60B Exxon Deal With Pioneer Executive Ban
The Federal Trade Commission on Thursday cleared the way for the close of the $60 billion mega-merger between Exxon Mobil Corp. and Pioneer Natural Resources, subject to an agreement barring former Pioneer Natural Resources CEO Scott Sheffield from gaining a seat on Exxon's board.
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May 01, 2024
Autonomy CEO's Atty Says Judge 'One-Sided' Against Client
A Steptoe LLP partner representing former Autonomy CEO Michael Lynch in his criminal fraud jury trial accused the judge overseeing the case of making comments to the jury that are "one-sided" in a way that prejudices the defense.
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May 01, 2024
Republicans Say Bank Merger Reviews 'Need A Shot Clock'
House Republicans on Wednesday raised concerns with federal banking officials about how long it can take their agencies to sign off on proposed bank mergers, a long-standing industry complaint that the lawmakers say a tight "shot clock" could help address.
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May 01, 2024
Sens. Slam UnitedHealth's Security Lapses, Breach Response
UnitedHealth's top executive faced heavy criticism during his first appearance before a U.S. Senate committee since a cyberattack rocked its Change Healthcare subsidiary, with lawmakers blasting the company for lacking basic security measures and for still not being able to confirm the scale and scope of the incident.
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May 01, 2024
3 Takeaways From The DOJ's Cannabis Recommendation
The marijuana advocacy and business world responded with guarded optimism after the U.S. Department of Justice's announcement this week that it recommended relaxing restrictions on marijuana for the first time in more than 50 years.
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May 01, 2024
Future Is 'Bleak' If Judge Rejects Novant Merger, Court Hears
Novant Health on Wednesday sought to portray itself as the "last best hope" to save two struggling hospitals in North Carolina at the start of a multiday hearing in which the Federal Trade Commission is asking the court to squelch Novant's proposed $320 million merger.
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May 01, 2024
Dental Supply Co. Must Face Suit Over COVID-Era Woes
Dental health products supplier Dentsply Sirona Inc. failed to get a suit dismissed accusing it of misleading investors about the extent of its pandemic-era woes, with a New York federal judge finding the suit identifies dozens of actionable misleading statements and plausibly pleads knowledge of wrongdoing by Dentsply's former executives.
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May 01, 2024
Bipartisan Reps. Introduce Bill To Trace Battery Supply Chains
Environmental advocacy groups including the Sierra Club, Earthworks and SAFE have thrown their support behind a new bill to promote traceability in battery supply chains, a measure aimed at weeding bad labor and environmental practices out of the supply chain.
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May 01, 2024
JPMorgan Says It's Paying $100M More In Trade Penalties
JPMorgan Chase & Co. said Wednesday that it expects to pay $100 million to yet another U.S. regulator to resolve alleged deficiencies with its program for monitoring employee and client trading activities, a fine that comes on the heels of an additional $350 million in penalties stemming from its trade surveillance.
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May 01, 2024
Chamber Must Name Cos. It Reps In Noncompete Suit, FTC Says
The Federal Trade Commission has asked a Texas federal judge to limit the U.S. Chamber of Commerce to representing only named members in its challenge to the agency's pending noncompetes ban, arguing the trade group can't hide behind the First Amendment to represent "millions of undisclosed members."
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May 01, 2024
PayPal Won't Face CFPB Enforcement Over Venmo Probe
Payments giant PayPal is not expecting any enforcement action from the Consumer Financial Protection Bureau after the agency told the firm it was closing its inquiry into social payment subsidiary Venmo, the company disclosed in a securities filing.
Expert Analysis
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Protested CFPB Supervisory Order Reveals Process, Priorities
The Consumer Financial Protection Bureau’s order announcing its first use of special oversight power to place installment lender World Acceptance Corp. under supervision despite resistance from the company provides valuable insight into which products and practices may draw bureau scrutiny, and illuminates important nuances of the risk assessment procedures, say Josh Kotin and Michelle Rogers at Cooley.
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Document Retention Best Practices To Lower Litigation Risks
As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.
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Series
Riding My Peloton Bike Makes Me A Better Lawyer
Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.
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The Challenges SEC's Climate Disclosure Rule May Face
Attorneys at Debevoise examine potential legal challenges to the U.S. Securities and Exchange Commission's new climate-related disclosure rule — against which nine suits have already been filed — including arguments under the Administrative Procedure Act, the major questions doctrine, the First Amendment and the nondelegation doctrine.
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Tips For Healthcare M&A Amid Heightened Antitrust Scrutiny
As the Biden administration maintains its aggressive approach to antitrust merger enforcement, prudent healthcare M&A counsel will consider practical advice when contemplating their next transaction, including carefully selecting a merger partner and preparing for a potentially long waiting period prior to closing, say attorneys at Davis Wright.
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New Eagle Take Permit Rule Should Help Wind Projects Soar
The U.S. Fish and Wildlife Service's recently issued final rule revising the eagle take permit process should help wind energy developers obtain incidental take permits through a more transparent and expedited process, and mitigate the risk of improper take penalties faced by wind projects, says Jon Micah Goeller at Husch Blackwell.
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Compliance Steps After ABA White Collar Crime Conference
Senior law enforcement officials’ statements this month at the American Bar Association's white collar crime conference suggest government enforcement efforts this year will increasingly focus on whistleblower incentives, artificial intelligence and data protection, and companies will need to update their compliance programs accordingly, say attorneys at Baker McKenzie.
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Investment Advisers Should Prep For Money Laundering Regs
Investment advisers should prepare for a Financial Crimes Enforcement Network proposed rule that would significantly expand anti-money laundering and counter-financing of terrorism obligations by assessing illicit financing risks, and expect examiners to scrutinize unregistered advisers and those with certain foreign clients, say attorneys at Paul Weiss.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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What The NIL Negotiation Rules Injunction Means For NCAA
A Tennessee federal court's recent preliminary injunction reverses several prominent and well-established NCAA rules on negotiations with student-athletes over name, image and likeness compensation and shows that collegiate athletics is a profoundly unsettled legal environment, say attorneys at Pillsbury.
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Md. May See Vigorous Resale Price Maintenance Enforcement
In Maryland, indications of a new focus on resale price maintenance agreements are significant because state prosecution in this area has been rare, particularly outside California, say attorneys at DLA Piper.
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What 2 Years Of Ukraine-Russia Conflict Can Teach Cos.
A few key legal lessons for the global business community since Russia's invasion of Ukraine could help protect global commerce in times of future conflict, including how to respond to disparate trade restrictions and sanctions, navigate war-related contract disputes, and protect against heightened cybersecurity risks, say attorneys at Morgan Lewis.
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Takeaways From EPA's New Methane Emission Rules
Attorneys at V&E examine two new Clean Air Act rules for the oil and gas industry, explaining how they expand methane and volatile organic compound emission reduction requirements and amplify U.S. Environmental Protection Agency enforcement risks.
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EEOC Case Reminds That Men Can Also Claim Pay Bias
The Maryland State Highway Administration recently settled U.S. Equal Employment Opportunity Commission claims that a male employee was paid less than his female colleagues, highlighting why employers should not focus on a particular protected class when it comes to assessing pay bias risk, say Barbara Grandjean and Audrey Merkel at Husch Blackwell.
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How AI May Be Used In Fintech Fraud — And Fraud Detection
Recent enforcement actions in the fintech and finance industries show that the government is increasingly pursuing fraud enabled by artificial intelligence — at the same time it’s using AI innovations to enforce regulations and investigate fraud, say attorneys at ArentFox Schiff.